Business
Currency update from Thursday's session
In the money markets, liquidity conditions continued to improve, with overnight and one-week lending rates averaging at 9.75% and 9.90%, respectively, according to Absa data.
Currency update from Thursday's session
By: Ali Twaha, Journalist @New Vision
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The Uganda shilling came under mild pressure against the US dollar in early trading, weakening from 3775 / 3785 to an intraday low of 3780 / 3790 amid strong interbank dollar demand.
However, traders said the local unit recovered in the latter part of the session, supported by robust inflows from the commodities sector, to close unchanged at 3775/3785.
However, traders said the local unit recovered in the latter part of the session, supported by robust inflows from the commodities sector, to close unchanged at 3775/3785.
In the money markets, liquidity conditions continued to improve, with overnight and one-week lending rates averaging at 9.75% and 9.90%, respectively, according to Absa data.
The Central Bank was active in the market, mopping up excess liquidity through its weekly Open Market Operations.
The Central Bank was active in the market, mopping up excess liquidity through its weekly Open Market Operations.